While the ongoing economic woes in Cyprus has somehow affected the global economy, the Philippines on the other hand, won its first ever investment grade debt rating from global credit rating firm Fitch. The firm also added that the Philippine economy has a stable outlook and cited a robust economy and improved fiscal management. And because of the upgrade, it gives the country a vote of confidence when it comes to credit rating. Some reports said that it marks the first time the Philippines joins the A-lister countries considered safe to invest.
Despite the weak economic backdrop yet the Philippine economy is still capable of withstanding the global economic crisis. It is one of the reasons why the sovereign credit rating was upgraded to BBB- from BB+. And one of the cause is due to the remittances of the OFW’s which accounted for 12% of the country’s GDP and 8% of the Philippine economy in 2012 alone.
I believe that those numbers are significant enough to make the Philippine economy stay afloat despite the global economic crisis but those who contributed to the economy’s flotation has given less importance by the government and sometimes being neglected. In fact, there are so many OFWs who are suffering especially in the Middle East. The so called modern era heroes are deprived of the benefits that are suppose to be from them.
NB: Image from wikimedia commons.
Almost all types of business sector have been affected by the growing trend of electronic globalization. Many have to cope with the digital world in doing business transactions in a daily basis. Although it is too complex to tell whether the digital technology in the broadest sense contributes to the growth or not yet it is also too naive to believe that it has no direct link in the pace of globalization. On the other hand, expenses in setting up modern technology should not outweigh the economic status of the company especially where hazardous materials shipping should comply with the regulators.
Transporting hazardous materials is not an easy task considering the strict implementation by authorities on safe regulation procedures. And this is the reason why there have been so many companies offering freight software in the transportation of dangerous goods. And it does not only made every transactions a lot easier, it also reduce the cost and increase service efficiency then it eventually have a domino effect to the company’s productivity and profitability. It also will have a substantial effect to the customers as they don’t have to be physically present to do business as it can be done online.
The logistics management software has made the transport of hazardous materials easier and simplifies the shipping process by taking care of all the details needed by the authorities. Then the company can just print their bills online and track their cargo by just a click of the mouse. And many have said that this kind of system can also provide a clear insight of the company’s spending that will have a great impact in the auditing process as information can be readily available and generated. In short, the safe transportation and shipping of hazardous materials can now be simply done without so much hassle in following regulations set by the authorities.